35. Accounts and other records.—
(1) Every registered person shall keep and maintain, at his
principal place of business, as mentioned in the certificate of registration, a true and correct account of—
(a) production or manufacture of goods;
(b) inward and outward supply of goods or services or both;
(c) stock of goods;
(d) input tax credit availed;
(e) output tax payable and paid; and
(f) such other particulars as may be prescribed:
Provided that where more than one place of business is specified in the certificate of registration, the
accounts relating to each place of business shall be kept at such places of business:
Provided further that the registered person may keep and maintain such accounts and other particulars
in electronic form in such manner as may be prescribed.
(2) Every owner or operator of warehouse or godown or any other place used for storage of goods and
every transporter, irrespective of whether he is a registered person or not, shall maintain records of the
consigner, consignee and other relevant details of the goods in such manner as may be prescribed.
(3) The Commissioner may notify a class of taxable persons to maintain additional accounts or
documents for such purpose as may be specified therein.
(4) Where the Commissioner considers that any class of taxable person is not in a position to keep
and maintain accounts in accordance with the provisions of this section, he may, for reasons to be
recorded in writing, permit such class of taxable persons to maintain accounts in such manner as may be
prescribed.
1. Subs. by Act 6 of 2022, s. 102, for “September” (w.e.f. 1-10-2022).
2. Subs. by Act 31 of 2018, s. 15, for “Where a tax invoice has” (w.e.f. 1-2-2019).
3. Subs. by s. 15, ibid., for “a debit note” (w.e.f. 1-2-2019).
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(5) Every registered person whose turnover during a financial year exceeds the prescribed limit shall get
his accounts audited by a chartered accountant or a cost accountant and shall submit a copy of the audited
annual accounts, the reconciliation statement under sub-section
(2) of section 44 and such other
documents in such form and manner as may be prescribed:
1
[
Provided that nothing contained in this sub-section shall apply to any department of the Central
Government or a State Government or a local authority, whose books of account are subject to audit by
the Comptroller and Auditor-General of India or an auditor appointed for auditing the accounts of local
authorities under any law for the time being in force.]
(6) Subject to the provisions of clause
(h) of sub-section
(5) of section 17, where the registered
person fails to account for the goods or services or both in accordance with the provisions of sub-
section
(1), the proper officer shall determine the amount of tax payable on the goods or services or
both that are not accounted for, as if such goods or services or both had been supplied by such person
and the provisions of section 73 or section 74, as the case may be, shall, mutatis mutandis, apply for
determination of such tax.
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